Trust Fintech Limited

26 Mar 2024 - 28 Mar 2024 Individual Category SME NSE

Min Investment

₹228000

Price Band

₹95-₹101

Issue Size

44.94 lakhs
Equity Shares

Lot Size

1200 (per lot)

IPO Dates
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26 Mar 2024

Open Date

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28 Mar 2024

Close Date

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02 Apr 2024

Allotment Date

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04 Apr 2024

Listing Date

Trust Fintech IPO is open for subscription starting from Tuesday, March 26, 2024, and will close on Thursday, March 28, 2024. The price band of this upcoming IPO is decided at Rs 95 to Rs 101 per share. The minimum lot size of this application for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,21,200 (101 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,42,400 (101 x 2400 shares). Trust Fintech IPO is a book-built issue of Rs 63.45 crores. This upcoming IPO issue is completely a fresh issue of 62.82 lakh equity shares. The offer for sale component is not available in this issue. The allotment for this new IPO is expected to be finalised on Monday, April 1, 2024. The Trust Fintech IPO will be listed on NSE SME, and the listing date is fixed on Wednesday, April 3, 2024. The book running lead manager of Trust Fintech Limited is Corporate Capital Ventures Private Limited. The registrar for this IPO is Bigshare Services Private Limited. 

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About Trust Fintech Limited

Trust Fintech Limited was incorporated in 1998, it is a software development company that specialize in providing core banking software, IT solutions, ERP implementations, Customized software solution development, SAP B1, and offshore IT services for Banking and financial services sector.  Company has invested in developing more than 10+ banking related products for the commercials, cooperative banks and financial institutions. These products comprise Core Banking software, Loan origination software, GST compliance software, Financial and Billing account software etc. Since, they provide banking solutions, all the products are keeping in mind RBI compliance requirements. The flagship product of the company, TrustBankCBS is a web based software. It offers the flexibility to the customer to deploy TrustBankCBS on their own premises with the customized infrastructure. Company provides services in India, Sri Lanka, Nepal, California, Ghambai, Tanzania, Ghana, Liberia, Nigeria, Zimbabwe and few more countries. Trust Fintech operates through offices in Nagpur, Pune, Mumbai. Moreover, 250 employees are employed.

Founded

1998

Managing Director

Hemant Chafale

Parent Organization

IPO Objectives

The net proceeds from the issue will be utilized to set up an additional development facility, installment of fit outs and interior design works in Nagpur, Maharashtra. Moreover, the funds will be invested in the procuring hardware and upgrading IT infrastructure. Furthermore, the expenditure related to the enhancement, maintenance and upgrading of existing products. Other than this funds will be used to meet the Global and Domestic Business development, Sales, Marketing expenses as well as the General corporate expenses of the company.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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